What claim would investors have to sue Facebook over?
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11-09-2012, 05:07 PM
Post: #1
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What claim would investors have to sue Facebook over?
I've been reading in the news that many investors are planning to sue Facebook over the falling price of their IPO and I was wondering, what grounds to they have to sue them over? Weren't they the ones who accepted the high price? And how is facebook responsible for the falling price?
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11-09-2012, 05:15 PM
Post: #2
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Read the articles.
But in a nutshell there are two main issues: - people believe that Facebook purposely did not disclose that the company was cutting revenue projections (ie: the company was earning less money than they said). - there were problems with the trading on the day of the facebook IPO. People put orders in at a specific price but the sales were not closed for hours or days (3 days) in some cases. Ads |
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